February 20, 2024
Residence Bancorp, Inc. (NASDAQ:HBCP) This fall 2023 Earnings Convention Name January 23, 2024 11:30 AM ET

Firm Members

David Kirkley – CFO

John Bordelon – Chairman, President and CEO

Convention Name Members

Graham Dick – Piper Sandler

Brett Rabatin – Hovde Group

Joe Yanchunis – Raymond James

Operator

Good morning, girls and gents, and welcome to the Residence Bancorp Fourth Quarter 2023 Earnings Convention Name. All members shall be in a listen-only mode. [Operator Instructions] After right now’s presentation, there shall be a possibility to ask questions. Please observe, this occasion is being recorded.

I might now like to show the convention over to Residence Bancorp’s Chairman, President and CEO, John Bordelon; and Chief Monetary Officer, David Kirkley. Mr. Kirkley, please go forward.

David Kirkley

Thanks, Ross. Good morning, and welcome to Residence Financial institution’s fourth quarter 2023 earnings name. Our earnings launch and investor presentation can be found on our web site. I’d ask that everybody please discuss with the disclaimer concerning forward-looking statements within the investor presentation and our SEC filings.

Now I’ll hand it over to John to make a number of feedback in regards to the quarter. John?

John Bordelon

Thanks, David. Good morning, and thanks for becoming a member of Residence Bancorp’s earnings name right now. I hope your morning is began off effectively. We respect your curiosity in Residence Bancorp and as we mentioned our outcomes and describe our strategy to creating long-term shareholder worth.

Residence Financial institution’s robust efficiency in 2023 – demonstrated our capacity to efficiently navigate unstable markets. Throughout the fourth quarter, we grew each loans and deposits, improved credit score and reported robust profitability.

For the quarter, loans elevated $12 million after rising $137 million within the first three quarters. Our 6.2% mortgage development in 2023 was in keeping with expectation, and we noticed contributions from all areas, together with our latest Houston market, which grew 19%. We’re happy with